Decimal billion by the end of the year – market and profit



By the end of the year, holders of long-term investment accounts (TBSZs) open in 2013 will be able to decide the fate of several hundred billion forinons after the five-year period of these savings expires on 31 December.

An important deadline for the entire retail sale market is 31st December: to date, it has to declare holders of long-term investment accounts that entered into a contract on what they want to start with in 2013 – NN Insurance says. According to the data of the Hungarian National Bank * In 2013, a total of 111,000 TBSZ contracts were concluded.

Image: Pixabay

Image: Pixabay

"The wave of contracting was probably motivated by the tax changes that came into effect on 1 August 2013, according to which TBSZ also accounts for a 6% healthcare allowance (EHO) if the account holder terminated his account for the first three years. Approximately 45,500 TBSZ contracts were closed in the summer months, immediately before August. Given that their total value exceeded more than 600 billion forins by the end of 2013, it is important to ask whether or not to use these amounts or to save them in other savings "– said Árpád Czene, product development manager for NN Insurance.

Still not too late to stand in the panel

In the past year, 6% revenue could be achieved by those who invested their money in a flat panel for spending purposes. This form of investment is still profitable, although revenue is declining, it is still useful to go.

Árpád Czene also emphasized that available tax relief could play a particularly important role in savings decisions for people affected by the current deadline. "Starting with the TBSZ commitment wave in the summer of 2013, we can assume that avoiding a six per cent tax burden in the event of a contract termination over 3 years could be a strong incentive for contract customers at the time, may be characterized by higher than average financial awareness and willing to commit to save more than 1-2 years, Said Arad Czene.

Among investors investing their money, so many people can choose to invest their freed money into some other long-term savings that save tax. This type of savings is also the type of pension insurance that is currently available for a tax credit of HUF 130,000 per year, equivalent to 20% of the premium paid for basic insurance as defined in the PPA Act.

According to surveys, the working-age population usually spends on setting up a business, private marriages and redemption of existing loans for two to five years. In the six to ten-year period, children's education and home purchase will be targeted, while in the long run they will focus on creating reserves and ongoing savings.


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